Simply Explaining Insurance
320 episodes - English - Latest episode: 2 months ago - ★★★★★ - 149 ratingsSimply Explaining Insurance
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Episodes
Simply Explaining Insurance #107- Diminished Value
October 24, 2019 14:03 - 5 minutes - 7.04 MBWhat is diminshed value? Let’s say that you are in an accident in your new car. It’s a pretty good one too. The hood looks like a sound wavelength. The bumper is on the ground. It’s just a mess and you know in your heart that when you are ready to sell or trade in […] The post Simply Explaining Insurance #107- Diminished Value appeared first on Dietz Agency.
Simply Explaining Insurance #105- Umbrella policies explained
October 16, 2019 22:12 - 12 minutes - 15.1 MBUmbrella policies are generally very affordable and becoming more and more important as the cost of medical costs increase and lawyers find new ways to file lawsuits (social media slander) Get in to learn more. Links My Website Music by Roger Clyne and the Peacemakers Simply Explaining Insurance on ITunes Simply Explaining Insurance on Spotify. […] The post Simply Explaining Insurance #105- Umbrella policies explained appeared first on Dietz Agency.
Simply Explaining Insurance #106- Umbrella policies explained
October 16, 2019 22:12 - 12 minutes - 15.1 MBUmbrella policies are generally very affordable and becoming more and more important as the cost of medical costs increase and lawyers find new ways to file lawsuits (social media slander) Get in to learn more. Links My Website Music by Roger Clyne and the Peacemakers Simply Explaining Insurance on ITunes Simply Explaining Insurance on Spotify. […] The post Simply Explaining Insurance #106- Umbrella policies explained appeared first on Dietz Agency.
Simply Explaining Insurance#105- Your best chance at determining if there is coverage.
October 10, 2019 20:11 - 7 minutes - 9.05 MBI have clients call me regularly asking if something is covered on their insurance. Something has happened. Something got damaged. They want to know if it is covered. The answer can be like Chinese algebra. It’s hard to figure out. If I try and call my claims office they will tell me to file the […] The post Simply Explaining Insurance#105- Your best chance at determining if there is coverage. appeared first on Dietz Agency.
Simply Explaining Insurance#104- Your best chance at determining if there is coverage.
October 10, 2019 20:11 - 7 minutes - 9.05 MBI have clients call me regularly asking if something is covered on their insurance. Something has happened. Something got damaged. They want to know if it is covered. The answer can be like Chinese algebra. It’s hard to figure out. If I try and call my claims office they will tell me to file the […] The post Simply Explaining Insurance#104- Your best chance at determining if there is coverage. appeared first on Dietz Agency.
Simply Explaining Insurance #104- Removing Claims
October 02, 2019 20:26 - 5 minutes - 7.21 MBThere are some situations where a claim has been filed on your homeowners policy that shouldn’t have been. Since claims have a direct effect on your premiums, it’s important to know how to have these removed. Every claim is reported to a master claims database that other insurance companies and other entities have access to. […] The post Simply Explaining Insurance #104- Removing Claims appeared first on Dietz Agency.
Simply Explaining Insurance #103- Removing Claims
October 02, 2019 20:26 - 5 minutes - 7.21 MBThere are some situations where a claim has been filed on your homeowners policy that shouldn’t have been. Since claims have a direct effect on your premiums, it’s important to know how to have these removed. Every claim is reported to a master claims database that other insurance companies and other entities have access to. […] The post Simply Explaining Insurance #103- Removing Claims appeared first on Dietz Agency.
Simply Explaining Insurance #102- Occurrence made Vs. Claims made
September 19, 2019 17:37 - 7 minutes - 8.66 MBThis episode explains the difference between a claims-made and an occurrence made policy. It is very important to understand the difference between these two policies. Insurance companies may provide two different types of liability coverage—occurrence or claims-made—and each comes with its own set of advantages and disadvantages. The limitations associated with each type of policy […] The post Simply Explaining Insurance #102- Occurrence made Vs. Claims made appeared first on Dietz Agency.
Simply Explaining Insurance #103- Occurrence made Vs. Claims made
September 19, 2019 17:37 - 7 minutes - 8.66 MBThis episode explains the difference between a claims-made and an occurrence made policy. It is very important to understand the difference between these two policies. Insurance companies may provide two different types of liability coverage—occurrence or claims-made—and each comes with its own set of advantages and disadvantages. The limitations associated with each type of policy […] The post Simply Explaining Insurance #103- Occurrence made Vs. Claims made appeared first on Dietz Agency.
Simply Explaining Insurance #102- Why does my insurance go up as my car gets older?
September 11, 2019 12:41 - 6 minutes - 7.38 MBI get this question once in awhile in my agency and I think it’s a very valid question. Every coverage in your auto policy comes with a price. The way it works is that the cost to cover your vehicle as it ages, actually does decrease. It is the liability portion of the policy that […] The post Simply Explaining Insurance #102- Why does my insurance go up as my car gets older? appeared first on Dietz Agency.
Simply Explaining Insurance #101- Why does my insurance go up as my car gets older?
September 11, 2019 12:41 - 6 minutes - 7.38 MBI get this question once in awhile in my agency and I think it’s a very valid question. Every coverage in your auto policy comes with a price. The way it works is that the cost to cover your vehicle as it ages, actually does decrease. It is the liability portion of the policy that […] The post Simply Explaining Insurance #101- Why does my insurance go up as my car gets older? appeared first on Dietz Agency.
Simply Explaining Insurance #100- Take Pictures of damage!
September 05, 2019 21:46 - 5 minutes - 6.64 MBI have had a few instances of clients who have had damage to their homes or separate structures and went through with the repairs without filing the claim first. This would not be our recommendation. The specific issue that I address in this podcast is that there was no proof that anything was damaged. The […] The post Simply Explaining Insurance #100- Take Pictures of damage! appeared first on Dietz Agency.
Simply Explaining Insurance #101- Take Pictures of damage!
September 05, 2019 21:46 - 5 minutes - 6.64 MBI have had a few instances of clients who have had damage to their homes or separate structures and went through with the repairs without filing the claim first. This would not be our recommendation. The specific issue that I address in this podcast is that there was no proof that anything was damaged. The […] The post Simply Explaining Insurance #101- Take Pictures of damage! appeared first on Dietz Agency.
Simply Explaining Insurance #100- Workers Comp waiting period
August 29, 2019 20:56 - 4 minutes - 5.91 MBWorkers compensation is a policy that offers coverage for W2 employees who are injured while on the clock. The policy is designed to pay for medical expenses that accrue for the injury. It will also cover lost wages if the employee missed work. There is a waiting period for lost wages. This waiting period varies […] The post Simply Explaining Insurance #100- Workers Comp waiting period appeared first on Dietz Agency.
Simply Explaining Insurance #99- Workers Comp waiting period
August 29, 2019 20:56 - 4 minutes - 5.91 MBWorkers compensation is a policy that offers coverage for W2 employees who are injured while on the clock. The policy is designed to pay for medical expenses that accrue for the injury. It will also cover lost wages if the employee missed work. There is a waiting period for lost wages. This waiting period varies […] The post Simply Explaining Insurance #99- Workers Comp waiting period appeared first on Dietz Agency.
Simply Explaining Insurance #98- Coverage for a Uhaul
August 22, 2019 16:11 - 4 minutes - 5.37 MBIn Idaho, we are having an influx of people moving here from out of state. Many of them are renting Uhauls to transport their belongings to their new home. Do they need to buy the coverage from the rental truck facility when the pick up the truck? My best and simplest answer to that is […] The post Simply Explaining Insurance #98- Coverage for a Uhaul appeared first on Dietz Agency.
Simply Explaining Insurance #99- Coverage for a Uhaul
August 22, 2019 16:11 - 4 minutes - 5.37 MBIn Idaho, we are having an influx of people moving here from out of state. Many of them are renting Uhauls to transport their belongings to their new home. Do they need to buy the coverage from the rental truck facility when the pick up the truck? My best and simplest answer to that is […] The post Simply Explaining Insurance #99- Coverage for a Uhaul appeared first on Dietz Agency.
Simply Explaining Insurance #98- Neighbors tree Vs. Roof
August 15, 2019 12:37 - 6 minutes - 8.26 MBIt continues to amaze me how after 15 years, I am still running into situations that are new. I have actually been asked this question in the past but never had a client go through it. In episode 70, we talked about this happening and almost a year later, it did. I had a client […] The post Simply Explaining Insurance #98- Neighbors tree Vs. Roof appeared first on Dietz Agency.
Simply Explaining Insurance #97- Neighbors tree Vs. Roof
August 15, 2019 12:37 - 6 minutes - 8.26 MBIt continues to amaze me how after 15 years, I am still running into situations that are new. I have actually been asked this question in the past but never had a client go through it. In episode 70, we talked about this happening and almost a year later, it did. I had a client […] The post Simply Explaining Insurance #97- Neighbors tree Vs. Roof appeared first on Dietz Agency.
Simply Explaining Insurance #96- Have you upgraded your house?
August 07, 2019 16:48 - 4 minutes - 6.02 MBI had a client call in this week and inform me that they put a new roof on their house and I am glad they did. This allowed me to update the information of their home in our system and it actually lowered their premium. If you have made any major changes or upgrades to […] The post Simply Explaining Insurance #96- Have you upgraded your house? appeared first on Dietz Agency.
Simply Explaining Insurance #97- Have you upgraded your house?
August 07, 2019 16:48 - 4 minutes - 6.02 MBI had a client call in this week and inform me that they put a new roof on their house and I am glad they did. This allowed me to update the information of their home in our system and it actually lowered their premium. If you have made any major changes or upgrades to […] The post Simply Explaining Insurance #97- Have you upgraded your house? appeared first on Dietz Agency.
Simply Explaining Insurance #95- Toys in Storage
August 01, 2019 19:20Many people believe that their toys (motorcycles, boats, 4 wheelers) are covered on their homeowners policy in the event of a fire of theft. This is rarely the case. If you want these covered properly, you can purchase a policy for any of these to cover if they are stolen or damaged while in storage. […] The post Simply Explaining Insurance #95- Toys in Storage appeared first on Dietz Agency.
Simply Explaining Insurance #96- Toys in Storage
August 01, 2019 19:20Many people believe that their toys (motorcycles, boats, 4 wheelers) are covered on their homeowners policy in the event of a fire of theft. This is rarely the case. If you want these covered properly, you can purchase a policy for any of these to cover if they are stolen or damaged while in storage. […] The post Simply Explaining Insurance #96- Toys in Storage appeared first on Dietz Agency.
Simply Explaining Insurance #94- Minor Beneficiaries
July 25, 2019 21:52This episode is to help families pick the proper contingent beneficiary for a life insurance policy. It is common for a husband or wife to list their spouse as a primary beneficiary. What about a contingent beneficiary? If the husband and wife die at the same time, the money will go to whoever is listed […] The post Simply Explaining Insurance #94- Minor Beneficiaries appeared first on Dietz Agency.
Simply Explaining Insurance #95- Minor Beneficiaries
July 25, 2019 21:52This episode is to help families pick the proper contingent beneficiary for a life insurance policy. It is common for a husband or wife to list their spouse as a primary beneficiary. What about a contingent beneficiary? If the husband and wife die at the same time, the money will go to whoever is listed […] The post Simply Explaining Insurance #95- Minor Beneficiaries appeared first on Dietz Agency.
Simply Explaining Insurance #94- Bees and dogs and mice and horses
July 17, 2019 22:01 - 5 minutes - 6.73 MBThis episode is sort of a mashup of what kind of things are covered on a homeowners policy when things are damaged or people are hurt due to animals. I had a few questions this week about damage that was sustained by a hornets nest in a wall of a house. Also, there was an […] The post Simply Explaining Insurance #94- Bees and dogs and mice and horses appeared first on Dietz Agency.
Simply Explaining Insurance #93- What kind of Agent is best for Millennials
July 03, 2019 19:37What kind of insurance agent works best with the Millennial generation? There are few things to look at for the best fit. All the research shows that Millennials like things quickly. They like things now. An agency that is quick to respond and has the technology to do so is important. For example, can they […] The post Simply Explaining Insurance #93- What kind of Agent is best for Millennials appeared first on Dietz Agency.
Simply Explaining Insurance #92- Slow Leaks
June 25, 2019 22:36 - 5 minutes - 6.5 MBThis is exciting! This will also undo some of the information from earlier episodes. There are always exclusions to homeowners policies. Wear and tear is one of them. Also neglect and faulty instillation are two other big ones. Slow leaks were not covered on most homeowners policies either. It seems as though slow leaks might […] The post Simply Explaining Insurance #92- Slow Leaks appeared first on Dietz Agency.
Simply Explaining Insurance #91- “You hit me”. “No, I didn’t”
June 18, 2019 21:15 - 6 minutes - 8.29 MBParking lot accidents are zero fun. I had a client go through an experience recently that was excactly that. Zero fun. My client claimed to have barely touched the other’s vehicle. There wasn’t even a mark on her car. The person she hit, claimed that she struck him so hard that it caused his car […] The post Simply Explaining Insurance #91- “You hit me”. “No, I didn’t” appeared first on Dietz Agency.
Simply Explaining Insurance #90- Hitting your own car or house.
June 06, 2019 17:37 - 4 minutes - 5.85 MBHow does insurance work if you strike a car you own, with another car you own? How about if you accidentally run into your garage door? Or some property you own in your garage or driveway? Good news is, there will most likely be coverage for you. What you need to know about these scenarios, […] The post Simply Explaining Insurance #90- Hitting your own car or house. appeared first on Dietz Agency.
Simply Explaining Insurance #89- Paying yourself back
May 29, 2019 20:58 - 5 minutes - 7.14 MBThis strategy isn’t for everybody. It takes some understanding and some discipline. If you can pull it off and start using this concept, it can be quite eye-opening. Listen to the basics of the strategy here. This episode explains what it is like when you borrow money from your permanent life insurance policy. In order […] The post Simply Explaining Insurance #89- Paying yourself back appeared first on Dietz Agency.
Simply Explaining Insurance #88- Vacant Properties
May 22, 2019 22:35 - 5 minutes - 6.78 MBThis episode explains how insurance companies see vacant properties. Always consult your insurance agent or company as policies differ from company to company and state to state. Let’s say a property is vacant for more than 30 days, many insurance companies will exclude coverage for theft and vandalism. If you are trying to insure a […] The post Simply Explaining Insurance #88- Vacant Properties appeared first on Dietz Agency.
Simply Explaining Insurance #87- Nonowner auto insurance
May 14, 2019 21:27 - 4 minutes - 5.23 MBThis episode is about a little trick you can do if you are planning on selling your car and canceling your insurance. If you do this and will be purchasing auto insurance in the future, you will be losing an important discount (for lack of a better term) called “prior insurance” Prior insurance is a […] The post Simply Explaining Insurance #87- Nonowner auto insurance appeared first on Dietz Agency.
Simply Explaining Insurance #86- Agreed Upon Value
May 01, 2019 19:02 - 5 minutes - 6.81 MBThere is a particular way to make sure your jewelry is covered properly on your insurance policy. If you have a small amount, many times it is covered in the base home policy. For example, the policy I offer can come with $5000 total, up to $1500 per piece. Anything over that amount, you want […] The post Simply Explaining Insurance #86- Agreed Upon Value appeared first on Dietz Agency.
Simply Explaining Insurance #85- Sewer and Drain
April 25, 2019 21:39 - 4 minutes - 5.88 MBThere is a coverage that is available as an endorsement on your homeowners policy called, “Sewer and Drain”. What does it cover? Honestly, it’s a deceptively named endorsement. This will help cover any damage done by a backup or overflow, into your house from a blockage that is off premises. So if there is a […] The post Simply Explaining Insurance #85- Sewer and Drain appeared first on Dietz Agency.
Simply Explaining Insurance #84- W2 vs. 1099
April 11, 2019 21:42 - 7 minutes - 8.54 MBI had two conversations with clients last week regarding the difference between 1099 contractors and W2 employees when it comes to insurance. This is an important distinction to get right for a number of reasons. Many new business owners want to hire 1099 contractors for one main reason. It’s cheaper. They don’t have to pay […] The post Simply Explaining Insurance #84- W2 vs. 1099 appeared first on Dietz Agency.
Simply Explaining Insurance #83- Buy Sell Agreements
April 03, 2019 19:39 - 7 minutes - 8.49 MBIf you are a business owner and you have a partner, a buy sell agreement should be an important part of your business plan. A buy-sell agreement in its simplest terms is a life insurance policy that the business owns in the event of the untimely death of one of the partners. When a business […] The post Simply Explaining Insurance #83- Buy Sell Agreements appeared first on Dietz Agency.
Simply Explaining Insurance #82- Service lines and Equip. Breakdown
March 18, 2019 17:26 - 6 minutes - 8.34 MBThe carrier that I work for just added two exciting endorsements to our latest homeowners policy. If there was ever such a thing as an exciting endorsement to a homeowners policy, this is it. This first one is a service line endorsement. It covers things like, the main water line running to the house from […] The post Simply Explaining Insurance #82- Service lines and Equip. Breakdown appeared first on Dietz Agency.
Simply Explaining Insurance #81- Flips
March 07, 2019 17:52 - 7 minutes - 8.43 MBAre you are in the business of flipping houses? It is important for you to understand how to insure this risk. A house that is being purchased, remodeled and resold, requires a different policy than you average homeowners policy or landlord policy. It’s a completely different risk. You may have to write a vacant property […] The post Simply Explaining Insurance #81- Flips appeared first on Dietz Agency.
Simply Explaining insurance #80- Shared Economy
February 28, 2019 22:47 - 6 minutes - 8.23 MBThe world has changed a great deal in the last 10 years. The iphone launched, apps were invented and almost everything we do, is different. You want a taxi? Order one up on your phone. You want a place to stay in Manhattan? Select a place on your phone and book it. This has also […] The post Simply Explaining insurance #80- Shared Economy appeared first on Dietz Agency.
Simply Explaining Insurance #79- Driver Tracking tech
February 21, 2019 21:27 - 6 minutes - 7.86 MB“I’m an excellent driver”. I hear this all the time. Now, you can prove it and pay less for your insurance. Driver tracking technology isn’t new and it has been around for a decade or so. It is getting more sophisticated though. The tech that I am familiar with is called the Signal App and […] The post Simply Explaining Insurance #79- Driver Tracking tech appeared first on Dietz Agency.
Simply Explaining Insurance #78- Total Loss
February 13, 2019 19:09 - 7 minutes - 8.8 MBLet’s say that you were involved in an auto accident and your vehicle sustained a substantial amount of damage. To repair that damage, it would cost more than the vehicle is worth. What are your options. You have 2 options. Your first option is to give the car to the insurance company. They will salvage […] The post Simply Explaining Insurance #78- Total Loss appeared first on Dietz Agency.
Simply Explaining Insurance #77-Source of Damage
February 06, 2019 19:01 - 6 minutes - 7.41 MBClaims can tough. I get calls every week from clients telling me that there is damage somewhere and asking if there is coverage. Unfortunately, that question is never easily answered. What I help a client with, is determining the source of loss. If there is water damage, where did the water come from? Was it […] The post Simply Explaining Insurance #77-Source of Damage appeared first on Dietz Agency.
Simply Explaining Insuance #76- Moving and Storage
January 30, 2019 14:57 - 5 minutes - 6.33 MBMy agency gets asked these questions often. “How are my things covered when I am moving”? Or, “Are my things covered in Storage?” If you have a homeowners policy in place, the simple answer is “yes.” There is situation where your belongings may only covered up to 10% of what your homeowners policy says. It […] The post Simply Explaining Insuance #76- Moving and Storage appeared first on Dietz Agency.
Simply Explaining Insurance #75- Nonrenewals
January 24, 2019 15:36 - 6 minutes - 8.26 MBThe agreement you have with an insurance company to insure your autos or home is a two sided mutually agreed upon situation. If either side wants to bow out, they have the right to do so. We see this more often on the consumer side when a client chooses to change companies. It can be […] The post Simply Explaining Insurance #75- Nonrenewals appeared first on Dietz Agency.
Simply Explaining Insurance #74- Deductibles
January 17, 2019 18:31 - 7 minutes - 8.97 MBDeductibles are a part of just about every type of insurance policy. It is what you will pay in the event of a claim and the higher your deductible, the lower your premium. I think it’s smart to look at your options and run the numbers. In some cases, raising a deductible on your auto […] The post Simply Explaining Insurance #74- Deductibles appeared first on Dietz Agency.
Simply Explaining Insurance #73- Insurance Commercials
January 10, 2019 21:55 - 11 minutes - 13.1 MBThe insurance industry pours billions of dollars a year into advertising and their ads are unavoidable. The issue I have with these ads, is while they are undeniably entertaining, they have no caloric value. While they are entertaining, I think they are a little misleading. Companies saying it’s easy to get a quote and a […] The post Simply Explaining Insurance #73- Insurance Commercials appeared first on Dietz Agency.
Simply Explaining Insurance #72- Short term health insurance
December 12, 2018 22:56 - 8 minutes - 10.6 MBThe individual health insurance space is a confusing landscape to navigate. It’s important to consult a licensed professional when discussing options and plans. On this podcast I talk about a health plan that is available that many are unaware of. Short term health insurance. These plans offer really nice coverage at an affordable price. They […] The post Simply Explaining Insurance #72- Short term health insurance appeared first on Dietz Agency.
Simply Explaining Insurance #71- Out of Pocket Max
December 06, 2018 16:07 - 10 minutes - 12.1 MBTis the season for health insurance and I have had a number of very good conversations with clients. When most people think of health insurance, they think of three things: How much does it cost? What is the deductible? What are the co pays? These are good questions to ask, but there is one part […] The post Simply Explaining Insurance #71- Out of Pocket Max appeared first on Dietz Agency.
Simply Explaining Insurance #70- Trees falling on houses
November 28, 2018 23:29 - 8 minutes - 9.59 MBIf your tree falls on your neighbors house and no one hears it, is it covered? I jest a little, but this question gets asked regularly in my agency. I did some research with a claims supervisor and found out that trees falling on houses, are considered an act of god. Acts of god are […] The post Simply Explaining Insurance #70- Trees falling on houses appeared first on Dietz Agency.